COMMERCIAL NEWS

Ashburton Guardian, Volume 59, Issue 39, 25 November 1938, Page 7

COMMERCIAL NEWS

THE RESERVE BANK.

THE WEEKLY STATEMENT. (Per Press Association.) WELLINGTON, November 24. A Gazette issued to-niglit contains the following statement of the assets and liabilities of the Reserve Bank of New Zealand as at the close of business on November 21 : LIABILITIES —

Proportion of reserve to notes and other demand liabilities .33.723 per cent

GRAIN AND PRODUCE.

THE CHRISTCHURCH MARKET.

CHRISTCHURCH, This Day

The potato season has now practically finished, and merchants are quoting for next season. For April, May and June deliveries £3 a. ton, on trucks, is being quoted for Sutton’s, whites and Dakotas. There is little business in the grain market, although tliere are still inquiries for linseed, winch is in short supply. Small orders for oats, white clover, and ryegrass are being received. In the country growing conditions are good, the prospects this year being much better than at the same time last year. Following are quotations to farmers on trucks at country stations,, sacks extra unless otherwise stated t Milling Wheat November delivery: Tuscan 5s lid; Hunters, 6s Id; Pearl 6s 3d (all f.0.b.). Fowl Wheat—F.o.b., 5s lOd. Oats—Gartons, to 2s 9d (A grade), 2s 6d to 2s 7d (lower grade); Algerians, 2s 3d to 2s 6d; Duns, 3s to 3s 6tl (according to quality). Ryegrass—Perennial, 4s to 4s 6d; Italian, 2s 9d to 3s 3d. Cocksfoot—7d to 9d. Cowgrass—7d to 9d. White clover—lOd to lid. Chaff—£4 to £4 15s (according to quality). Flour—£l3 15s 6d, in 2001 b sacks. Bran—£4 15s to £5 5s (local price). Pollard—£6 5s to £6 10s (local price).

SYDNEY MARKETS

SYDNEY, November 24

The Sydney wheat market is dull, but remains well above export parity. Silo grain is quoted at 2s 6|d, and bagged at 2s Sd. Flour £7 10s, bran and pollard £5; potatoes, Tasmanian, £l3, others £7 to £ll ; onions, brown £ls, white £l3; maize, yellow 4s Bd, white 4s fkl.

GOLD RISES STILL HIGHER.

LITTLE BELOW RECORD PRICE. (Received This Day, 8.55 a.m.) LONDON, November 24. Gold is quoted at £7 9s 6d a fine ounce—2d below the record price of March 6, 1935. • _ In the afternoon, in unofficial dealings, gold reached £7 9s 8 jd—almost the highest unofficial record, which was £7 9s lid in 1935.

THE SHARE MARKET.

The following sales were made on the Ciiristchurch Stock Exchange yesterday : LISTED STOCKS. Sales on ’Change.

UNLISTED STOCK Sales on 'Change. 100 Ballins Breweries ... 010 4

£ s. d. General reserve ... 1,500,000 0 0 Bank notes 14,496,272 0 0 Demand Liabilities: State 2,288,333 4 9 Banks 5,546,481 6 11 Other 884,574 3 0 Time deposits — Liabilities in onr- * rencies other than New Zealand currenev 21,949 1 1 Other liabilities ... 164,094 9 3 Total £ (N.Z.) 24,841,704 • r ) 0 ASSETS— £ s. d. Reserves: Gold 2,801,791 0 0 Sterling exchange 5,029,137 3 2 Gold exchange ... — Subsidiary coin .... 209,512 7 9 Discounts— Commercial and agricultural bills — Treasury and local body bills .... — Advances— To State or State Primary Products Marketing Dept. 4,699,033 5 o For other purposes . 8,500,000 0 0 Investments 3,500,,870 16 5 Bank buildings ... — Other assets 101,359 12 6 Total £ (N.Z.) 24,841,704 5 0

£ s. d. £200 N.Z. Govt., 1 p.c., Ins., 1919 98 15 0 150 Bank of N.Z. (cum div.) 2 0 9 (52) 2 0 11 50 Broken Hill Proprietary (ex div.) 2 16 10 100 Dunlop Rubber .1. 0 *5 100 Woohvorths (Sydney, ord.) 1 0 9 500 New River 0 0 10 100 Mount Lvell (cum div.) 1 9 2 200 Mount Morgan 0 .8 11 0 9 0 150 Grey River 0 14 6 Sales Reported. 200 Bank of N.Z. 2 1 0

200 Woohvorths (Sydney, oi’d.) , ‘ ... 1 0 10 100 Wellington Alluvials 0 0 1